ElectraMeccanica Announces Production Start Date of August 26th for Flagship SOLO EV
August 24 2020 - 8:31AM
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO)
("ElectraMeccanica" or the "Company"), a designer and manufacturer
of electric vehicles, today announced an official start date of
August 26th for the commencement of production for its flagship
SOLO EV.
The SOLO is a purpose-built, all-electric,
three-wheeled vehicle for the modern urban environment. Engineered
for a single occupant, it offers a unique driving experience for
the environmentally conscious consumer. The SOLO
has a range of over 100 miles and a top speed of 80 mph, making it
safe for any road or highway. The vehicle features front and rear
crumple zones, triple-side impact protection, roll bar,
torque-limiting control and many premium comfort features, such as
power steering, power brakes, air conditioning and a Bluetooth
entertainment system. The SOLO blends a cool,
modern look with state-of-the-art technology at an attainable price
point.
ElectraMeccanica will be working in close partnership with its
contract manufacturing partner and strategic investor, Zongshen
Industrial Group (“Zongshen”), in Chongqing, China on the initial
production vehicles. The Company has targeted late November/early
December for initial deliveries to select members on its pre-order
list before ramping production to meet growing demand.
Distribution will begin in three locations where the Company has
an existing retail footprint: Southern California, Scottsdale, AZ
and Portland, OR. Additional deliveries will be made to key markets
along the West Coast as the Company continues to expand.
Owing to strong consumer demand, ElectraMeccanica has already
accumulated a substantial waiting list and encourages potential
customers to place their pre-orders as soon as possible to secure
their position in line. The SOLO is currently
available for pre-orders on the Company website here.
“August 26 will be a momentous occasion for our business, and I
could not be prouder of all the efforts from our collective team to
make our SOLO dream a reality,” said
ElectraMeccanica CEO Paul Rivera. “We will be working continuously
with our manufacturing partners throughout the next several months
to ship fully-assembled vehicles and put them into the hands of our
early adopters. Going forward, we are making every effort to ensure
that the driver experience and customer care are fully supported.
We are thoughtfully considering every detail to ensure that the
‘Drive SOLO’ experience is truly exceptional.”
About ElectraMeccanica Vehicles
Corp.ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a
Canadian designer and manufacturer of environmentally efficient
electric vehicles (EVs). The company’s flagship vehicle is the
innovative, purpose-built, single-seat EV called the
SOLO. This three-wheeled vehicle will
revolutionize the urban driving experience, including commuting,
delivery and shared mobility. The SOLO provides a
driving experience that is unique, trendy, fun, affordable and
environmentally friendly. InterMeccanica, a subsidiary of
ElectraMeccanica, has successfully been building high-end specialty
cars for 61 years. For more information, please visit
www.electrameccanica.com.
Safe Harbor StatementExcept for the statements
of historical fact contained herein, the information presented in
this news release and oral statements made from time to time by
representatives of the Company are or may constitute
“forward-looking statements” as such term is used in applicable
United States and Canadian laws and including, without limitation,
within the meaning of the Private Securities Litigation Reform Act
of 1995, for which the Company claims the protection of the safe
harbor for forward-looking statements. These statements relate to
analyses and other information that are based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management. Any other statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as “expects” or “does not expect”, “is expected”,
“anticipates” or “does not anticipate”, “plans, “estimates” or
“intends”, or stating that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved) are not statements of historical fact and should be
viewed as forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and other factors
include, among others, the availability of capital to fund programs
and the resulting dilution caused by the raising of capital through
the sale of shares, accidents, labor disputes and other risks of
the automotive industry including, without limitation, those
associated with the environment, delays in obtaining governmental
approvals, permits or financing or in the completion of development
or construction activities or claims limitations on insurance
coverage. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Although the Company believes
that the expectations reflected in such forward-looking statements
are based upon reasonable assumptions, it can give no assurance
that its expectations will be achieved. Forward-looking information
is subject to certain risks, trends and uncertainties that could
cause actual results to differ materially from those projected.
Many of these factors are beyond the Company’s ability to control
or predict. Important factors that may cause actual results to
differ materially and that could impact the Company and the
statements contained in this news release can be found in the
Company’s filings with the Securities and Exchange Commission. The
Company assumes no obligation to update or supplement any
forward-looking statements whether as a result of new information,
future events or otherwise. Accordingly, readers should not place
undue reliance on forward-looking statements contained in this news
release and in any document referred to in this news release. This
news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities.
Company ContactMs. Bal Bhullar, CPA, CGA,
CRMChief Financial Officer & Director(604)
428-7656Bal@electrameccanica.com
Investor Relations ContactGateway Investor
RelationsMatt Glover and Tom Colton(949)
574-3860SOLO@gatewayir.com
Public Relations ContactMichelle Ravelo-Santos
R&CPMK(310) 854-4755michelle.ravelo@rogersandcowanpmk.com
Electrameccanica Vehicles (NASDAQ:SOLO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Electrameccanica Vehicles (NASDAQ:SOLO)
Historical Stock Chart
From Sep 2023 to Sep 2024